Texas Grapples with Crushing Power Bills After Freeze

>Wholesale power prices on Texas’ main power grid hit the ceiling price of $9,000 per megawatt hour for parts of five straight days. That was exponentially higher than the average price, which was $21.18 per megawatt hour in 2020, according to the Electric Reliability Council of Texas, or Ercot, the nonprofit that controls the grid.

>Now power retailers and municipal utilities are trying to figure out how to pass on the billions of dollars in costs to customers, some of whom face bills in the thousands of dollars that may need to be stretched out over time.